Help me The following accounts and balances were drawn from the records of Brighton Enterprises:• Cash: $10,500Accounts payable: $7,200. Common stock: $6,500Land: $20,800Accounts receivable: $3,100Based on this information alone, what is the amount of Brighton Enterprises' retainedearnings?

Step 1: Definition of Retained EarningsRetained earnings refer to the portion of a company's net…

Answered: The following accounts and balances…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 13GI

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Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $34,944 Accounts receivable 69,094 Accrued liabilities 6,969 Cash 17,451 Intangible assets 38,664 Inventory 76,507 Long-term investments 106,760 Long-term liabilities 76,378 Marketable securities 37,920 Notes payable (short-term) 20,617 Property, plant, and equipment 699,093 Prepaid expenses 2,696 Based on the data for Harding Company, what is the amount of working capital? a.$1,048,185 b.$203,668 c.$141,138 d.$696,397
Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $37,895 Accounts receivable 69,212 Accrued liabilities 6,543 Cash 17,127 Intangible assets 36,451 Inventory 78,770 Long-term investments 99,442 Long-term liabilities 72,027 Marketable securities 39,229 Notes payable (short-term) 24,334 Property, plant, and equipment 693,814 Prepaid expenses 1,182 Based on the data for Harding Company, what is the quick ratio, rounded to one decimal point? a.3 b.15.1 c.0.8 d.1.8
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The following items are reported on a company's balance sheet: Cash $112,300 Marketable securities 131,400 Accounts receivable (net) 45,200 Inventory 170,000 Accounts payable 270,000. Determine the current ratio ?
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You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities = $400000, Accounts receivable = $1200000, Inventory = $2100000, Accrued wages and taxes = $500000, accounts payable = $800,000, and notes payable = $600000. Calculate Goodman Bees' net working captaL
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The following accounts and balances were drawn from the records of Brighton Enterprises: • Cash: $10,500 Accounts payable: $7,200 . Common stock: $6,500 Land: $20,800 Accounts receivable: $3,100 Based on this information alone, what is the amount of Brighton Enterprises' retained earnings?